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. >> not necessarily, david. >> that is the only way the government gets money e mack isn't it? >> taxes have to go up to pay the interest on all of the debt. i got to tell you something when you have federal reserve officials experiencing buyer's remorse over all of the u.s. treasuries they have been buying you have to say these must are supposed to bet smartest guys in the room if they are not liking the balance sheet loaded down with treasury debt and what they are trying to do to support the spending going on that is a gut reality check. >> rick, i know you are a lawyer and not an economist. >> but i play one on tv. >> the numbers don't add up, do they? >> the ryan up ins add up. >> could you think the obama numbers add up you? >> we haven't seen them yet. >> we have seen them and seen how he has spent. i'm not talking about pie in the sky. where he has spent. increased the size of the government by 20%. is it working? >> except you would agree that we are seeing the deficit come down each year is since 2009. >> good size now at 800 million? >> of course, it is not at a good size. it is getting be
in 10 years by reforming the tax code in medicare and repealing the president's health care law. budget committee chairman paul ryan spoke with reporters for a half an hour. >> good morning, everyone. what we have here is the house budget committee republican majority. putting out yet again a budget that it just is america's needs, a budget that balances. it is a responsible, balanced budget. we owe the american people a balanced budget. or the third straight year, we have a limited. we have balance a budget in just 10 years. this is a plan to balance the budget in 10 years. the house budget committee has spent the last several weeks working together with each other just like families and businesses do around the country. we have been assembling a budget so that we can make sure our country can live within its means. it is a reasonable goal, balancing the budget. we cannot keep spending money we do not have. that is the basic acknowledgment and you are budgeting. just like families and businesses, you cannot keep kicking the can down the road. medicare is jeopardizing the health for mil
of the cuts into taxes. but at any rate, we think early this week we'll have a clear sense of getting this done t. may have to go back to the house if the senate does amend it, and then the house i think would quickly pass it. host: stick with us real quick. senate majority whip dick durbin was on fox news sunday yesterday talking about the continuing spending resolution to keep the government funded and timing on what. i want to play that now. >> this is all very important, i understand, but we have work to be done in just a short period of time. i urge my senate colleagues, let's be sparing in the amends. let's get the c.r. passed. we can do it and do it quickly this coming week. host: before we let you go, if they don't get this done this week railroad company we thinking members may come back from recess next week before the 27th? is there any talk of that? guest: there's been nothing that i've heard, and i mean, i just wouldn't -- i wouldn't be too speaked by this. i think they will get it done early. i think they'll know by today, we'll be able to rough out a schedule after we h
loopholes and cutting wasteful spending in the tax code that benefits the wealthiest americans and biggest corporations. in addition to replacing sequestration with deficit reduction that is far more responsible, our budget follows the advice of experts and economists across the political spectrum who say it makes sense to invest in job creation in the short term while putting ourselves on a strong path to responsible and sustainable deficit and deficit reduction over the immediate -- immediate and long term. we believe that in order to truly tackle our economic and fiscal challenges in the real world and not just make them disappear on paper, we need a strong foundation for growth built from the middle out. so this budget invests in a $100 billion economic recovery protection plan to put workers back on the job, repairing our nations highest priority, deteriorating infrastructure and fixing our crumbling schools and installing critical educational technology like broadband that our students need to succeed. this plan creates an infrastructure bank to leverage public funds with private inv
we spoke to grover norquist of americans for tax reform on this morning's washington journal. here's a portion of the conversation. >> host: welcome back to the "washington journal" and over -- grover norquist joins us. i want to get your thoughts on the news of the growth and opportunity project report out from the republican national committee, the chairman of the republican national committee is having a press conference that started a few minutes ago at the national press club, talking about changes that the party needs to make in terms of outreach, changes to how to dominate a presidential nominee. just on what you've heard so far? >> guest: first of all is important to do a postmortem on an unsuccessful campaign. republicans at every recent to believe that -- would capture the senate and when the white house as well and it didn't happen. now at the same time republicans had 30 governors and democrats have 20 and at the state level more republican state legislators than democrats. there are 25 states where republicans have united control in both houses and only 12 states, less
. he's planning this year to abolish the corporate and individual income tax, moving in a very different direction than the national democrats want to and winning elections with that approach. so there's a lot to be learned both by the failure of the romney campaign and the senate races and the successes the republicans have had at the state level. >> host: and we're taking your calls in this segment with grover norquist with americans for tax reform. the phone lines are open. democrats, 202-585-3880. republicans, 202-585-3881. independents, 202-585-3882. grover norquist known as an expert on some of these budget issues. you bring up the senate budget that we saw from budget chairwoman patty murray last week with. talk about that and how you think it compares to paul ryan's budget. >> guest: there are two major differences. they certainly go in different directions. the paul ryan budget balances in ten years and does not raise taxes. patty murray's budget never balances and raises taxes $1.5 trillion over the next decade. so what the democrats and patty murray are saying in add
from unspecified tax reform and doesn't identify single loophole in there that you would close. how is this honest accounting and how does this help lend legitimacy to the budget process that many americans feel has become kind of a farce? >> there are no budget gimmicks. in fact it's not our numbers that we're using. there's an independent referee that scores everybody's budget. they score our budget, the president's budget which doesn't exist yet but when he files it they will score that. in our budget they actually score the house budget to balance in ten years. and what paul does, a budget doesn't actually implement tax reform. it calls for tax reform. it calls on the various committees of jurisdiction to do certain things. we'll be calling on our natural resources and energy and commerce committee to increase energy production for example. that doesn't say exactly how to do it. that's what those committees do. so the ways and means committee will be called upon to implement tax reform and what we mean by tax reform is to close loop holes not in the the president's example to sp
their proposals on taxes. under their budget, the top rate is to be reduced from 39.6% to 25%. the a.m.t. will be repealed. the corporate tax rate will be cut from 35% to 25%. but you don't find one sill bell in the republican budget on how these tax cuts will be paid for. . they don't identify a single tax policy that will end. the republican budget would mean a huge tax cut for the very wealthy, several $100,000 a year and leave a nearly $6 trillion hole in the deficit that would lead to tax increases for middle-income families. that isn't balance. that is total imbalance. at the same time, republicans propose cutting $3.3 trillion from programs for people with low and moderate incomes, including hundreds of billions of dollars for food nutrition and medicaid programs. so i want to end by asking the republicans when they come and talk about their tax proposals to name a specific that they would address. it's not in the republican budget. name one, name two, name three. otherwise, it's worse than empty. the chair: the time of the gentleman has expired. the gentleman from wisconsin.
resolution that the senate democrats have put ut in about four years. it would raise more tax revenue, selectively curb spending, and reduce deficits enough to stabilize the debt but not balance the budge net ten years' time. now here's what the house republicans promise. >> our budget will provide economic security for families. it will guarantee a secure retirement for seniors. it will expand opportunity for the young. >> paul ryan's latest edition of his path to prosperity budget isn't too different from previous versions. he plans to maintain revenue lefls, curing spending. the president is way behind on his february 4th deadline to put forward a proposal and he doesn't have much time left. >> my goal is not to chase a balanced budget just for the sake of balance. my goal is how do we grow the economy, put people back to work. >> america doesn't really have a budget right now. it has a continuing resolution, which is an extension of an earlier budget. that continuing resolution expires on march 27th. if congress goes beyond that without at least a patch, the government could shut
plans to drastically curb spending, reform the tax code what increasing revenue and actually reform the budget in ten years, and the president is way behind his february 4th deadline to put forth a proposal and he doesn't have much time left. >> my goal is not to achieve a balanced budget just for the sake of balance. my goal is how do we grow the economy, but america back to work? >> america doesn't really have a budget right now, it has a continual resolution, which is an extension of an earlier budget. that expires on march 27th. if government goes beyond that without a patch, they could shut down. we're supposed to have an actual budget resolution voted on and in place by april 15th, but we're way behind on that. on may 18th, we're set to hit the debt ceiling. some say that could be the showdown. i want to bring in nancy, with the "new york times." andy, let's start with you. both sides put budgets out. everybody knows that neither of these budgets are going anywhere. what happens next? >> so, essentially, we're going to go through the same sort of continuing resolution process
. >> it is coming under criticism for fuzzy math. he uses revenue from unspecified tax return and does not identify a single leap -- the poll you would close. how is this honest accounting and how does this land and did it -- legitimacy to the budget process? >> there are no budget gimmicks in this document. it is not our numbers we're using. there is an independent referee, the congressional budget office, that scores everyone's budget. this for our budget, the president's budget. that will be the official number. they scored the house budget to balance in 10 years. a budget does not implement tax reform, it calls for tax reform. it calls on the various committees to do certain things. we will be calling on the natural resources and energy committee and commerce to increase energy production. that does not say exactly how to do it. the ways and means committee will be called upon to implement tax reform. what we mean is to close -- close loopholes. we closed loopholes to work overall rates. we have the highest corporate tax rate in the world right now. it makes america uncompetitive. instead of a
as quickly as possible. now, we had the discussion earlier about taxes and we thought that we had worked the tax problem for and everybody preserved people's taxes for 99% of the people and we thought that there were going to be some spending cuts coming. somebody sent me this little chart that i have to share. this says "republican" on it. "okay, i'll raise taxes if you promise to cut spending." well, lucy, it's a "deal." but we've been watching this cartoon for years and years and we know what happens. when we go to pick up the spending cuts, the football suddenly gets lifted out of the way and we wind up on our back. the american public winds up on its back. that's not the kind of spending cuts we're looking for. we're looking for some real spending cuts. not just a decrease in the growth but some real spending cuts. and there's -- there's a way to do those. wyoming has been faced with probably an 8% in reduction in its income. how did it handle it? the governor, seeing that coming, got ahold of every department and program and said, i need a plan from you for how you would cut 2%, ho
with mandatory spending or comprehensive tax refm. that is what it will take. neil: do you think that bernie marcus, the home depot cofounder, was telling me on fox news, the spenders are using a pr war, the strong stock market, improving economic numbers as jusjustification for more spend. >> i don't buy that, i don't think that the sck marke is as pro efficient -- prefish ent as people think, we don't need to been the budget, the way that the government calculates a balanced budget is a bad joke, we do have to do, we have to start treating the disease, deal with health care costs, deal socialnsurance programs. neil: they are not. they might -- but remind me,er dayhey don't, a new pore added to our -- a few more added to our debt. all unfunded. >> that is right, that is what we need. >> you local starkest terms. >> the full view, if we look at big number, over 70 trillio, if we end up doing -- >> how does that work? >> debt held by public, held by social security medicare trustee fund, and pensions unfunded, arrange of commitment contingency, and unfunded social security and medicare promis
limbaugh. >> now, there are people that don't like it, even on the republican side because it has tax increases in it, some say tax increases on the rich. leaves some of obama's tax increases in it. heritage foundation has done deep analysis of this. one of their problems with the ryan budget is, and they do have problems with it, is that hefty tax increases of obama's are maintained. they're kept in it. they're not done away with. >> paul ryan's budget leaves in the increase in top income tax rate that president obama achieved in january, the conservative blog red state noted the ryan budget leaves in 1 trillion in tax revenue in president obama's health care reform bill, including taxes on tanning salons and high value health care plans, which provoked erick erickson to question whether house republicans should even vote for it. since paul ryan's budget keeps the obama care tax revenue stream, isn't voting for his budget a violation of the repeal pledge? and in an interview with cnbc, paul ryan could not continue to pretend his budget choices had any attachment to reality. >> in ter
think about pat to marry -- patty mariposa proposal that includes spending cuts and tax increases. here are the numbers to call. here is the headline in the baltimore sun this morning. the budget plan -- the senate democratic plan released yesterday would raise taxes on the wealthy and some corporations -- we focused yesterday on the gop proposal and we will reflect on that a little today as we dig into one democrat tab on the table. here's the headline in the washington times. that's the direction the washington times is taking. we will look at a couple other headlines and how they are covering this story. the headline in the new york times says -- we will hear more about that this morning and that is coming into play as well. let's listen to senator patty murray, the head of the budget committee. she unveiled her 2014 budget plan yesterday afternoon. [video clip] >> are budget tackles this issue the way the american people have consistently said they want it done, with an equal mix of responsible spending cuts across the federal budget and new revenue raised by closing loopholes and c
these knuckleheads? orregard to taxing the rich cutting out loopholes, everybody in this country gets some form of entitlement in one shape or form. i don't understand why because i get a paycheck and somebody else makes their money through investments or a different way, why i am taxed more. if you earn money, you get taxed on it the same as everybody else. i do not agree with that at all. and i don't understand why we have to give tax subsidies to corporations that do not need it. why on earth does the oil company need our money? why does the agriculture business need our money? you are making enough money. cut out the tax loopholes and we can get out of this mess. host: we are covering the cpac conference and there are a number of ways you can watch and listen. depending on what the house yesterday, we will be live with the house this morning, once the house recesses, the cpac coverage can be seen on this network. you can also listen on c-span radio and wanted anytime on our website, c-span.org. also be a location to what some of the conferences that get underway this morning. some other com
. but listen to this. the democratic budget calls for $1 trillion in tax increases over the next 10 years. how are you going to grow an economy with that? and every working american is going to pay some of those taxes. let me ask you, let me ask you this. are you already not paying taxes through the roof? i am. property tax, sales tax, gas tax, state tax, city of new york tax, federal income tax, and almost everything i do in my leash time, rental cars, hotels, planes, all taxed as well. and the democrats want to add another trillion dollars in taxes? so we're quickly becoming sweden which has the highest tax rate in europe. u.s. corporate tax is already the highest in the world, already. and there is no doubt president obama wants to raise them even further. so, again, is this a sound economic policy? is this going to grow the economy in the u.s.a.? is it? finally, the president and the democratic party have failed to tell the american people exactly what programs they will cut in the future, if anymore. once again, there is no specific entitlement reform put forth by the president. this is r
in almost four years. and tax hikes are at the center of their plans once again. senate budget committee chair patty murray proposing a budget that calls for a trillion dollars in new taxes. according to the congressional budget office, it still won't balance the budget, even decades down the road. democrats argue that this budget cuts almost 2 trillion from deficits over ten years. and they asked rich to pay their fair share. wih the white house insisting to the press that the american people have given them a mandate to take this approach. >> we need to ask the wealthy to contribute to deficit reduction, and that is a position that the public widely supports. i will wait for the budget to be putorward in senator murray to do that. we expected to be balanced, to have the principal balance inherent in its proposals. it is not -- in that don't expect it will be -- an agreement on every item of the president's proposal, but it will be consistent with the president's balanced approach. lou: the latest poll however contradicts jay carney claims of wide public support. the president's job app
it to the rich. let's raise taxes trillions of dollars. let's go and stick it to special interests like people who he provide gasoline at the pump. to raise taxes on oil companies. ladies and gentlemen, every time you raise taxes, you raise prices. and every time you race -- raise prices the consumer has to pay more for it. these are the ideas that make america less able to be prepared for its future and cost more money. that's why when you look at this slide you see where the laws already enacted by the democrats are leading america to where we will be functionally bankrupt. we are following theure peaian model exactly what -- the european model exactly what they have done over there for a number of years and now we are seeing firsthand, iceland, greece, cyprus just yesterday. this is the pathway that if our friends, the democrats, get their say, this is where they'll lead us. so republicans through paul ryan spoke about we want to make sure that medicare, social security, that the free enterprise system is alive and well by making these plans and the process therein ready for the employers a
of bankustomers are blowing their talk, with talk of a 10% tax on deposit the money, has a lot of angry customers storming the atm machines but the government has closed banks to avid a bank run, a keeping them close until they sort this out, but the tax is till coming. for cyprus it is about the cost of staying in the euro club, never mind how average i citizes there are getting club. but this is about taxing assets there. something with which we should all be very familiar here. no uncle sam has not hacked into our bank accounts -- yet, but he made a b-line for our other assets like next time we try to sell our home, and obamacare wants 3.8% of the profit for medicare tax. juss like it is tacking medical devices for what it deems exception atrogen -- generous healthy insurance policy. so what is such a big leap going from hitting you up for dollars off fur devices, and hitting you up for dollars off your deposits. none, i tell you cyprus is not isolated. i am telling you, cyprus is a test case, it is starting, it was not only liberal the world over watching. now big brother, everywhere salivati
ones is tax policy. and if mr. ryan's budget passes as you have suggested, then the top tax rate goes from 39% to 25%. which means that those who already have a lot will get a whole lot more. . i'm reminded of a quote by president roosevelt, and he id, it's -- this is to paraphrase. he said we're not measured by how much those who have get what we do who have little. this is where the great buying power of america should be in the bottom 99%, really the bottom 50% or 60%. i thank you for raising the tax policy in the ryan budget. the rest, because of the elimination of the debt actions, are going to see a stalling of their income. ms. norton: he does get balance within 10 years and look how he gets it. you still do not have like anything like a contribution, a real contribution, from those who have benefited the most from the tax cuts built on that chart. you are talking about it continues to come from the lowest part of the income stream -- income groups in the united states. i don't know when people will -- let the congress know they aren't going to take it anymore. the time has com
don't know what the loop holes there. there's a notion that the oil companies don't pay any taxes. of course they pay bills -- billions and bills of tax. >> a number of republicans were grateful. well, at least they're not raising tax breaks. have they been so cowed and beaten down that they're grateful it's the only revenue enhancement are just closing loopholes, special breaks, allowances, deductions. >> still more money that guess out of the economy and doesn't have an impact. more importantly, though, it's still sold the same way. still taxing the rich corporations and rich americans who have unfair advantages. so it leaves the door open to another sort of tax the next go-around. i didn't think -- >> neil: i thought that was off the table. >> after you get $41 in tax hikes with one dollar in tax cuts. >> there is the argument that you have the ryan plan, the murray plan, maybe have two sides that could broach some differences but i see some chasm >> but it's a more hopeful tone on both parties. the democrats say now that, yes, we must have tax hikes, or tax something -- tax re
corporate tax reform. even pushing democrats on entitlement reform or so he says. now i know, i know, my favorite president reagan trust by verify, but i think there's some optimism out there and i'm going to do my best now to persuade my pal, conservative superstar ann coulter. she's the author on set for the full hour. jimmy williams. and michelle caruso-cabrera. ann coulter, i know you think i'm nuts but i'm telling you the stock market is a great signal. the republicans won on the sequester. obama's poll are down so now he's having to come to the negotiation table. i like this story. i want to be optimistic about this story. >> um, i want to be optimistic too. but i want to be realist jig. all,000 are the financial maven and i would normally defer to you, that's the only thing i'm pessimistic about. i think the economy -- i would not count on the stock market continuing to go up. i know nothing about it. i just don't think that what's happening in the company justifies it. people don't have any other place to put their money. i do think people will get fed up with obama. one thing i'
they are trying to figure out how to cut the tax bill by using prior losses, because guess what, they are profitable today, and that savings would allow them to pay back the treasury over $60 billion and almost what they owe them entirely, and given that i asked former hud secretary martinez if we need to wind down fannie and freddie since they are profitable, and he said we do need to restructure, but something stunning to get the government out of the market, and he said that we need judges out of the foreclosure process. >> i think that the way that the 1,000-day wait for foreclosure is not fair to anybody in the system. i would say that a non-judicial system is the way to go, and the states who have a nonjudicial system have done it much more rapidly and better for the marketplace. so we are helping no one really when we retard the opportunity for a recovery, so in my view, a nonjudicial is the way to go and florida should move in that direction. >> and here in new york and new jersey where judges are a part of the process, it would take decades to get through the backlog of
that support job creation just for the sake of more budget busting tax cuts for the wealthiest taxpayers and corporations. yet my friends on the other side my friends continue pushing this approach in the name of deficit reduction, but their own leadership admitted we don't have a debt crisis in the country. the architect, congressman paul ryan, said we don't have a debt crisis. speaker boehner said it's not an immediate problem. why should we enact this budget while democrats have a balanced approach to protect the middle class. why should we pass a budget that gets 66% of its cuts from programs for people of low or moderate income. why should we pass a budget that cuts pell grants that helps students or cuts the snap program that helps to feed 48 million people to give a $200,000 tax cut to millionaires? the budget put forward by the congressional black caucus continues the snap program to prevent americans from going hungry. while at the same time, reducing the deficit by $2.8 trillion over 10 years. the american people know we can't cut our way to prosperity, nor can we succeed by pu
for medicare. or else i lose my provider, and i think that's a tax they are putting on people with -- bilities and trying to got to pay on their disability. and those with legionnaires disease or h.i.v., dirty needles. host: ray, atlanta, georgia, republican party. good morning. caller: good morning. very interesting conversation you're having this morning. i have found that most people pend a fairer amount of time planning for their vacation than for their retirement. i work with a fortune 10 company and have been with them for 28 years so at the water cooler hearing different conversations if you ask people how much money they have in their 401-k, a lot of them have no idea nor do they have any idea on the different plans to put their money in. it's rather appalling, actually. host: ray, how old are you? caller: 52. host: when do you plan to retire? caller: i'm going to work until i'm 62-63 years old. something about public america, i have a -- family members with retirement pensions about $65,000. being in corporate america my pension is nowhere near that, so if we don't save in our 401-k t
a budget in balance through largely spending cuts and largely no tax hikes, in other corner democratic senator patty murray. a case of us likely losing, because the cuts really are not there we have rick yo joining m -- a little boxing reference, you have to know that. all right, so, what do you think elizabeth? leaving aside in controversial things that paul ryan wants to do. in the en, just trimming the increase, that is it? >> yeah, i think one of the big thing here's that people lose sight of is balancing the budget, patty murray supposed budget does not even balance, it is supposed to raise a trillion in revenue, that tells you, this is more of a shopping spree than a budget, people need to remember that a budget hopefully means you are only spending as much as you take in, not more. neil: scott martin, the markets seem to sense, maybe that despite all of the just erring -- gesturing we're at least, cutting the growth and stuff, we're not really cutting but that is better than doing nothing? or am i misreading the market? >> you are reading it correctly, that is a reason we had su
and taxes, g.o.p. budget includes repeal of obamacare, which i'm sure the democrats are not going to like. ryan reforms the tax code by bringing it down to two tax brackets. the white house releasing its own budget plan in april, we are back to square one. weave that to ta about. welcome all, great to have you here. here are the numbers that popped out to me in ryan's budget. saving 5 trillion over 10 years, but when you drill down into what is really going on here, government spending, federal government spending is going to increase 3.4% each and every year. it will increase anyway 5%. currently that is the plan. in washington we called tha a cut. if we are supposed to rise by 5%. i am teasing you. the spending goes up every year on this budget, but i think this is a pretty heroic effort on the whole. as you mentioned he does the tax reform, goes after the big boulders of the budget, medicare and medicaid. he h, i like the fact he has gone through the abolitn of obamacare. setting up a huge fight because they willry to pass this out of the house meanwhile a trillion dollars x increase i
the budget. that would eliminate the deficit. on the senate side, we have accommodation of raising taxes by getting rid of unspecified tax loopholes and also cutting spending in areas like on subsidies and making changes to programs like medicare and medicaid. the democrats are pushing forward their plan. but right now there is no bipartisan plan to merge. in this slow and thoughtful thing, we will have to wait and see. >> i know you don't like the editorials from the publication "the wall street journal." this title is a key to the senate democrats play a role in the budget negotiations. beginning with these words, ring the church bells and set up the white smoke. senate democrats have released their first budget in four years. give patty murray credit for finally proposing something in public view. but after reading the document, we can say we can see why the democrats were so reluctant for so long. then the editorial spells out some specifics. >> they did not put forward a budget for warriors. we went through a crazy for years with the economy. we went to the financial crisis and the
of dollars of emergency crash and creditors impose onetime tax of 3% on all bank deposits under $130,000. >> going deep here. >> the tax could be closer to 10% on people who have over $640,000 in the bank. that's according to the "the wall street journal" this morning. people stood in long lines over the weekend to withdraw money before the policy went into effect and now russian president vladimir putin is calling the move, quote, unfair, unprofessional and dangerous. russian citizens make up the majority of billions of euros held in cypress bank. this is important. >> cypress. >> who cares about cyprus? >> come on, cyprus. are you telling me if somebody sneezes in cyprus we get a cold than on the nasdaq? >> tell us why. >> we have a cold on the nasdaq. the nasdaq is going down today. not too many people care about cyprus but a way the europeans have screwed up the bailout by getting the people to pay a part of the cost. you could have a run on the bank and europeans say why do i have my money in this bank? might be a tax on me next. it shows that europe is still a mess, that they h
of selective tax cuts that would lift all yachts, but leave many dinghies behind. our republican friends like to talk about making the hard choices, but what they propose here would make it much harder for millions of americans and also make things much easier for a fortunate few. that's their plan. now, specifically under this plan, he has this new goal of balancing the budget in 10 years. and to accomplish this, he slashes funding safety net programs that, for seniors, students, children, low-income families and women. the budget slashes food stamps, cuts funding for infrastructure investments, like high-speed rail. we are falling way behind the rest of the world. we need to invest in our infrastructure to stay competitive. and it does nothing for job creation or to help the unemployed. the ryan plan places medicare and really ends medicare as we know it by replacing it with a voucher system and replaces medicaid by making it a block grant to the states. these cuts hurt tense of millions of america -- tens of millions of americans who count on medicare for their health care coverage. don't
to defend including some of the tax increases that have gone into it effect in recent years and explain how he would also get rid of the president's health care reform act. he said we consider the tax increases to be federal law and that our question, it isn't the affordable care act federal law? he said, n,o this is something we want to continue fighting. democrats say that we've been through a supreme court challenge to an annual voted on this 30 times, why are we continuing to battle over something that democrats have no intention of appealing? host: the president is scheduled to release his budget a week of april 8. he is set to meet with house republicans today. give us the nature of these meetings. guest: the meeting today is the second of four meetings. it's part of his charm offensive stories trying to win over congressional support for a grand bargain. this has been an effort that was spurred by failing in the sequester a couple weeks ago. he has almost the opposite challenge of what he did yesterday when he met with senate democrats. they were pressing him on his willingness to ac
years and will not raise taxes. how does he accomplish this? he doesn't spend what we don't have. here is how the congressman explained it earlier today. >> this budget cuts spending by 4.6 trillion dollars offer the next ten years. historically we've paid a little less than 1/5 of our income to the federal government, but the government has spent a lot more. we match revenues with expenditures, so the budget matches the spending with income just like every family and business must do throughout america. >> sean: to help us reach this balanced budget in ten years, congressman ryan lays out four major issue we as a country must tackle. first, energy. ryan's plan paves a path for affordable and american produced energy, most notably, the plan green lights the keystone pipeline to generate almost 140,000 jobs. second, health care, first and foremost the budget repeals obamacare and strengthsens the medicare system for future generations. third, welfare reform, changes made in 1996 by extended reforms to other programs. gives states flexibility so they can tailor programs like medicaid and
is the disposable income after that payroll tax disappeared? continue negotiating. 82% is a proof of the way congress does its job. joining us now from washington, d.c. is steve moore. senior economics writer at the "wall street journal." will compromise and improve their standing in the eyes of the american people? i highly dow it. >> let me bring you up to date. there is still black smoke coming out of the capital. we still have not seen a senate budget. by 4:00 o'clock or 5:00 o'clock tonight, maybe. hold onto your hats, we make it a set budget. that would be quite a rare occurrence on capitol hill. people are extremely angry about the budget situation. they are extremely angry apple parties because of the accumulation of debt. they do not seem to be doing anything to stop this tsunami of red ink. washington is incomplete disarray. what do we do in november? we reelected 96% of these people. the numbers do not add up. dagen: i completely agree. if you look at the proposals from paul ryan and the senate democrats, where do you think there is room for compromise? >> i have looked through bo
to have this grand bargain. we go to war, we don't pay. we do big pharma, we don't pay. tax cuts, we don't figure what it's going to do to the economy, but you, you might have to pay for it. there is one senator prepared to filibuster to protect social security, medicare and medicaid. senator bernie sanders will join me in a moment, but president obama, he went to capitol hill today for a closed door meet wg the democrats. senate budget chairwoman patty murray, she revealed a plan with new revenue and spending cuts. nearly $1 trillion over the next ten years. president obama will meet with both parties on capitol hill. meanwhile, chairman paul ryan unveiled his budget plan and listen to how ryan describes republican priorities. >> the most important question isn't how we balance the budget, but why. a budget is a means to an end. an end is the well being of the american people. >> the most important question is how we balance the budget and making sure it's not on the backs of working americans. congressman ryan also made an unfortunate slip. >> this to us is something we're not going to
's so many obligations so many new taxes associated with it. it's incredibly expense simple. it was supposed to lower the cost. it has raised the cost of the premiums for average family, and in the neighborhood of $5,000. this is a disaster. and the real question is, will anybody have the honesty to own up to the fact this is a disaster and saying can we start over again and do this in a reasonable way and get the voices of people who actually know something about how to save money involved? everybody agrees that healthcare reform is necessary. but it needs to be done the right way. neil neil do you think it's too late for that? that this sort of medical ship has sailed and despite all the problems, i don't see the administration trying to draw it back. paul ryan wants to rescind the whole healthcare program and start fresh, but that's unlikely. so given that distinct possibility, what are we left with? >> well, i'm not as pessimistic as you are. i think there is just a slight chance that maybe some people who have pushed this thing forward, can stop for a moment and instead
on spending and taxes. so far, the game is not going very well. >> is the grand bargain dead? >> i don't know whether we can come to a big agreement. the president believes that we have to have more taxes from the american people. we're not going to get very far. >> the president has sounded equally pessimistic about bridging the divide. >> it may be that the differences are just too wide. if their position is we can't do any revenue, or we can only do revenue if we gut medicare or gut social security or gut medicaid, if that's the position, then we're probably not going to be able to get a deal. >> while there's not much agreement there are plenty of ideas. washington is awash in budgets. no less than six plans are currently circulating on the hill. there is the plan from senate democrats, or the murray plan. it includes a one-to-one ratio of spending cuts and tax increaseses, as well as short-term stimulus. then there's the house democrats' budget, which pushes for $200 billion more in revenue than the plan proposed by their party members in the upper chamber and there is a congressional pr
to include tax expenditures, a large part of our federal expenditures in the tax code. and the military also needs to be part of deficit reduction. we also need to do this in a select way. these across-the-board sequestration cuts are not how we as well govern. we should be specific as to which programs are priority programs and which programs can be cut. i think that's where we are trying to find common ground between the democrats and republicans. there are discussions taking place among my colleagues on both sides of the aisle to try to find that common area of agreement. >> shannon: we all as americans wish you the best. i want to give you a chance to respond to criticism from jeff sessions. he says the senate budget, proposed and voted on by the committee is full of gimmicks and raises taxes by $1 trillion and increases spending and has no plan and makes no claim to ever balance the budget? >> well, the democratic budget from the senate -- it has more deficit reduction than the simpson-bowles proposal that we all thought was the right framework, just 2 years ago, so i think it is seriou
-increases debt, raises taxes and never balances. the top republican for budgetary issues blasted the democratic plan. >> now we know why senator reid did not want to bring up a budget. the plan from the democratic leadership is a failed plan for america. it does not alter the debt course of america, has no growth component to it. it spends more and taxes more. reporter: but these budget resolutions only require a simple majority so there are enough democrats to pass the democrats' budget resolution without republican votes needed. and so there you have republicans in the senate, all they can do is bash the plan. they cannot actually stop it. the house republicans are passing the paul ryan plan, and so then they'll go to conference and that where the heavy lifting will begin. >> shepard: the paul ripe plan has zero chance. >> it will pass the house and then they'll try to iron it out between the two plans. the paul ryan plan on its own would not be signed by president obama, would not pass the senate, burt it will pass the house. >> shepard: mike, thank you. meantime, something about our econo
spending under control all without raising taxes. as senate depp democrats prepare their own budget plan, can congress and the president reach a bipart san budget compromise any time soon in hampton pearson takes a look. >> house republicans unveiled the blueprint they say balances the federal budget with just spending cuts and no new tax hikes. at the top of the gop list of what's needed to achieve $4.6 trillion in spending cuts over the next decade is to repeal obama care, cut domestic programs from medicaid to college grants and require future medicare patients to bear more of the program's cost. gop budget pointman paul ryan once again throwing down the gauntlet to democrats. >> we don't think it's fair to let critical programs like medicare go bankrupt. we don't think it's fair to take more from hardworking family to spend more on washington. >> the obama white house wafrted little time in criticizing the budget, when it comes to reducing the deficit the math doesn't add up and the middle class will pay the price. >> this is the alternative to balance. it results in unfair tax hikes
what they've released with the budget so far, trillion dollars in new taxes and won't balance in the ten year window and may in fact never balance and also, even though there's a trillion dollars in tax increases, it's not going to fundamentally reform the mandatory programs, social security, medicare that are going bankrupt. so, you know, i'm waiting to see it. and we will have our chance to weigh in on it. we will have amendments to it, and certainly, we'll present our vision, which will be bringing us to balance in ten years like the house is going to do. >> greta: when you mention balance, president obama talked with george stephanopoulos, abc, my goal is not to chase a balanced budget for the sake of balance. >> i guess chasing a balanced budget for the sake of balance is not -- chase ago balanced budget because first of all, it makes sense, it's good for economic growth and getting jobs created in this country. if we continue to run the trillion dollar deficits each year, it hurts our economic growth, but also, i'm the mother of two children. what are we doing? what are
from tax reform. it also sets aside $100 billion in stimulus spending on infrastructu infrastructure. how does it tack up to the budget proposed yet by paul ryan? here is a side-by-side comparison. the savings are more than double those in murray's plan. how has the numbers wizard able to find so much more extra fat to trim from the federal budget? he is cutting to the bone. more than $700 billion would be caved out of medicaid and nearly a try won would be chopped from programs including food stamps and pell grants. the defense would see zero in cuts in an enter view that aired this morning -- >> we're not going to balance the budget in ten years, because if you look at what paul ryan does to balance the budget, it means that you have to voucherize medicare, you have to slash deeply into programs like medicaid. >> but even those cuts alone don't make paul ryan's numbers add up. it only achieves balance through a full repeat of obama care, which it's worth noting is already law of the land upheld by supreme court and being enacted in 27 states. this gimmickry represents a stunning th
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